We’ve waited all year for this. Ah, yes—summer time.
After navigating harshly cold temps and gray weather, we’re finally able to pull out the cutoff shorts and partake in all the fun activities that can only happen in this season. And there’s plenty to do—every artist we can think of is currently touring, vacation travel is at an all-time high and pop-up events are calling our names. So are our exceptionally high bills.
Along with our spirits, inflation is at all-time high.
During a recent Senate committee meeting, Fed chair Jay Powell said it’s “crucial” for the US government to work to return national inflation to 2% from its current 8% . “We are committed to getting inflation under control,” he said, but also sharing that at least one more increase is likely before we’ll see a decrease inflation reflected in living costs.
But in the meantime, we deserve a reprieve. Here’s how to enjoy your summer without blowing up your bank account in the process.
Utilize tax-free weekend to make large purchases
As bargain shopping site Krazy Coupon Lady points out, 17 states have some sort of a sales tax holiday, or a “tax-free weekend,” in which things are available for purchase without the additional state sales tax cost. Check your state’s official website to confirm whether this is happening in your hometown to save some extra bucks this summer.
Get a gas rewards card
Cards from brands like Chase Freedom Flex, Sam’s Club and Discover it Cash Back give you points and rewards when you purchase gas that can be used at the pump later.
Keep close track of your entertainment budget
Purchases big and small can get away from you if not careful, so it’s important to keep an eye on them. Using apps like Rocket Money or Zoho allows you to connect all your credit and debit cards so a sensible entertainment budget can be set and monitored. They’ll even send you alerts when you’ve gone over.
I know it’s the last thing you want to hear, but you can’t do everything as much as you may want to. With ballooning concert and music festival ticket prices, sky-high flight costs and more expensive hotel rates, it’s perfectly ok to pass on certain experiences that you know will wreak havoc on your wallet. Instead, explore free options like hosting a potluck bbq at your or a friend’s house. Or having a fun picnic in the park.